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Gannett Releases May Statistical Report, Ad Revenue Way Down

Press release from the issuing company

ARLINGTON, Va.--June 15, 2001--Gannett Co., Inc. reported today that total pro forma operating revenues declined 7 percent for the fifth period ended June 3, 2001 compared to the same period in 2000. For comparison purposes, the continued drop in the exchange rate of Sterling year- over-year again affected the company's Newsquest/Newscom reported results. Results for the period reflected difficult year-over-year comparisons and a continued soft domestic advertising environment. Pro forma newspaper advertising revenues declined 7 percent in the period on a pro forma ROP volume decrease of 5 percent and a similar decline in preprint distribution. Pro forma classified revenues declined 9 percent in the May period on a 5 percent decline in ad volume. Holding the currency constant year-over-year, classified ad revenues would have declined 8 percent. Employment revenues decreased 21 percent, real estate advanced 2 percent, and automotive was basically flat. The company's classified results from Newsquest, particularly in help wanted, were stronger than its domestic results. Pro forma local advertising revenues declined 5 percent on a 6 percent decrease in ad volume. Again, assuming constant currency year-over-year, local advertising revenues would have declined 4 percent. Once again, the performance of the company's small and medium-sized advertisers in its domestic newspapers outpaced the revenue performance of its largest advertisers. Pro forma national advertising revenues decreased 9 percent on a 12 percent decline in ad volume. National ad volume at local domestic newspapers declined 11 percent. At USA TODAY, advertising revenues declined 16 percent on an 18 percent decline in paid ad pages to 452 from 554. For the year-to-date, USA TODAY's paid pages numbered 2,295 compared to 2,990 last year, while ad revenues were 22 percent lower. Pro forma television revenues declined 15 percent in the fifth period. Local revenues declined 9 percent and national revenues fell 25 percent. In addition to the revenue and statistical summary, attached is a chart which shows the consolidated Gannett Online audience shares for April from Media Metrix and Nielsen/Net Ratings. In April, Gannett's domestic Websites, according to Nielsen/NetRatings, had 9.1 million unique visitors reaching 8 percent of the Internet audience. Newsquestis also an Internet leader in the U.K. The pro forma advertising revenue statistics include the results of Newsquest and Newscom, the 19 daily newspapers as well as the weekly and niche publications acquired from Thomson Newspapers Inc., and Central Newspapers, Inc. as if they were all owned in both years for the month of May. However, ad linage for Newsquest and Newscom is not included in the ad volume statistics. Circulation volume numbers for Newsquest's and Newscom's paid daily newspapers are included in the enclosed statistics, but volume from unpaid daily and non-daily publications is not included in the circulation volume statistics. Gannett Co., Inc. is an international news and information company that publishes 98 daily newspapers in the USA, including USA TODAY, the nation's largest-selling daily newspaper. The company also owns in excess of 300 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. In the United Kingdom, Gannett subsidiary Newsquest plc publishes nearly 300 titles, including 15 daily newspapers. Gannett also operates 22 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.

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